2024-04-21 21:31:42
New Delhi: There has been a lot of ups and downs in the stock market this week. The market opened with a decline yesterday i.e. on Friday, the last day of the trading week. However, later there was a rise in the market and the market closed with gains. During this period, the trend of decline in the market that had been going on for four days stopped. BSE’s 30-share index Sensex rose 599.34 points or 0.83 percent to close at 73,088.33. However, the Sensex opened with a decline and slipped by 672.53 points or 0.92 percent to a low of 71,816.46 in early trade. But Sensex was successful in gaining momentum due to buying in bank shares. National Stock Exchange (NSE) index Nifty also jumped 151.15 points or 0.69 percent and closed at 22,147 points. It fell to a low of 21,777.65 in early trade, but later closed with gains. With this, the trend of decline in both the major indices that had been going on for the last four trading sessions came to an end. In these four days, both Sensex and Nifty saw a significant decline. The companies included in the Sensex group include Bajaj Finance, Mahindra & Mahindra, HDFC Bank, JSW Steel, Maruti, Wipro, Bharti Airtel, Bajaj Finserv, ICICI Bank and ITC. Was successful in gaining the lead. On the other hand, shares of Nestle India, HCL Technologies, Larsen & Toubro, Tata Consultancy Services, Tata Motors and Infosys were down.
How will the market move?
According to experts, support for Nifty is currently visible at 22 thousand. On the technical charts the indicator has crossed the 55 EMA which is a short term moving average. A close above this moving average signals a positive short-term trend. Bulls can further take the recovery of Nifty to 22,350. If it goes above this, Nifty can go towards 22,700. In fact, the Indian equity market has outperformed the global markets. Global markets have fallen further due to rising tensions in West Asia and the dollar gaining against major currencies.
Keep an eye on these shares
Next week, the results of many companies like LTI Mindtree, Bajaj Finance, Bajaj Finserve, HDFC Bank, ICICI Bank, Reliance Industries, Tata Consumer will be under watch. At the same time, tension and fear of war between Iran and Israel will be the biggest factor for the market. Movement during the weekend can create problems for the market. Investors will have to keep an eye on these many factors.
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